Elevation Point Wealth Partners LLC raised its holdings in shares of Infosys Limited (NYSE:INFY – Free Report) by 89.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 23,707 shares of the technology company’s stock after acquiring an additional 11,183 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Infosys were worth $433,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the business. AQR Capital Management LLC raised its stake in shares of Infosys by 270.9% during the fourth quarter. AQR Capital Management LLC now owns 9,164,085 shares of the technology company’s stock valued at $200,877,000 after acquiring an additional 6,693,127 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Infosys by 118.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,912,259 shares of the technology company’s stock valued at $173,437,000 after acquiring an additional 4,296,291 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Infosys by 14.5% during the fourth quarter. First Trust Advisors LP now owns 32,410,108 shares of the technology company’s stock valued at $710,430,000 after acquiring an additional 4,108,903 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Infosys by 1,668.3% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,228,211 shares of the technology company’s stock valued at $75,470,000 after acquiring an additional 3,045,656 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Infosys by 43.1% during the fourth quarter. Bank of America Corp DE now owns 8,225,396 shares of the technology company’s stock valued at $180,301,000 after acquiring an additional 2,478,093 shares during the last quarter. 16.20% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts have recently commented on INFY shares. BMO Capital Markets lowered their price objective on shares of Infosys from $25.00 to $18.00 and set a “market perform” rating for the company in a research note on Monday, April 21st. Investec upgraded shares of Infosys from a “sell” rating to a “buy” rating in a research report on Friday, April 18th. CLSA upgraded shares of Infosys from a “hold” rating to an “outperform” rating in a research report on Friday, March 7th. Susquehanna upgraded shares of Infosys from a “negative” rating to a “neutral” rating and set a $17.00 price target on the stock in a research report on Monday, April 14th. Finally, The Goldman Sachs Group cut shares of Infosys from a “buy” rating to a “neutral” rating and set a $17.90 price target on the stock. in a research report on Monday, April 21st. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.48.
Infosys Price Performance
Shares of NYSE INFY opened at $18.43 on Monday. The stock has a market capitalization of $76.38 billion, a P/E ratio of 23.33, a P/E/G ratio of 3.50 and a beta of 0.98. Infosys Limited has a 1 year low of $15.82 and a 1 year high of $23.63. The company’s 50-day moving average is $17.76 and its 200 day moving average is $19.92.
Infosys (NYSE:INFY – Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The technology company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $420.69 billion. Infosys had a net margin of 17.28% and a return on equity of 31.60%. During the same quarter in the prior year, the company earned $0.23 earnings per share. Research analysts anticipate that Infosys Limited will post 0.74 earnings per share for the current year.
Infosys Profile
Infosys Ltd. is a digital services and consulting company, which engages in the provision of end-to-end business solutions. It operates through the following segments: Financial Services, Retail, Communication, Energy, Utilities, Resources, and Services, Manufacturing, Hi-Tech, Life Sciences, and All Other.
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